Insight Acquisition Corp. (INAQ.U) Prices $240M IPO


Insight Acquisition Corp. (INAQ.U) Prices $240M IPO

Insight Acquisition Corp. announced the pricing of its $240 million IPO and its units are expected to begin trading on the NYSE under the symbol “INAQ.U” Thursday, September 2.

The new SPAC intends to focus its search on businesses in the FinTech or financial services industry with an enterprise value of approximately $750 million to $1.5 billion, with particular emphasis on businesses that are providing or changing technology for traditional financial services (“FinTech”), those in the wealth, investment, asset management and insurance sectors, or certain types of technology companies that provide services to the FinTech or financial services companies. Insight is led by Chairman Michael Singer along with CEO and CFO Jeffrey Gary.

Total SPAC deal count for 2021 year-to-date is now 421. This offering is expected to close on Tuesday, September 7.

Cantor is serving as the sole book running manager for the offering with Odeon Capital Group, LLC as the co-manager. Proskauer Rose LLP is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.